Joint administrator at Watford-based Baker Tilly Mark Wilson says he is in advanced negotiations with a potential buyer for the assets of International Bottle Company, the Hertford-headquartered plastic bottle blowmoulder and glass packaging merchant which went into administration in mid-June.
Alongside its headquarters, IBC operates two sites in Enfield, one a warehousing facility equipped with injection blowmoulding equipment and the other a printing and storage facility for standard and bespoke bottles.
Wilson says: "Regrettably we had to make 26 IBC employees redundant in June. Interest in IBC, which has suffered the dual pressures of suppliers asking higher prices and retailers demanding reduced costs, was initially strong, but we have whittled this down and are in what we hope may be the final stages of negotiation with one party interested in buying IBC's assets."
He added that finding a buyer has taken longer than expected and, following further redundancies, leaving "just a handful of staff" at each site, any buyer will "virtually be re-starting from scratch".
